How to Protect Yourself From Online Payday Loan Scams

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We work with hundreds of clients every day who are trying to escape the payday loan trap. Each of their stories is very different. However, there’s one common story that we see with nearly every client we work with. They’ve either been a victim of a payday loan scam or have been contacted by someone attempting to scam them.

Payday loan scams are becoming more and more common. We see it every day. So, here are our top tips for making yourself aware and protecting yourself from online payday loan scams.

1. Stay away from online payday loans!

The best way to protect yourself is to stay away from online payday loans, altogether.

2. Do not trust a phone call or email!

If you receive a phone call or email from anyone claiming that you own them money for payday loan debt, be cautious! Don’t believe everything you’re told. This could be a scam. Scam artists are good at what they do. It’s likely that they have a lot of your personal information (full name, date of birth, social security number, address, employer, etc.). Just because they can verify this information does not mean they are legit.

5. Report fraud!

If you are contacted by someone who you believe has falsely obtained your information or is posing as someone they are not and attempting to collect money they’re falsely due, file acomplaint with the FTC right away.

6. If you believe you’ve been a victim of fraud, take action!

If you believe you’ve been scammed, take action! Contact the FTC immediately. Because the scammers may also have access to your personal information (social security number, bank account, etc.), you could be a victim of identity theft, as well. So, take appropriate precautions. File notices with all 3 credit bureaus, contact your bank and make them aware, and keep a cautious eye on all of your personal accounts moving forward.

Do not take these calls or emails lightly. Be aware of what a scam phone call or email could look like. Be very cautious. And do everything you can to protect yourself and your finances.

While we cannot help resolve any fraudulent activity, we can help you escape the payday loan debt trap. If you’re ready to make a change, we’re your go ­to payday loan consolidation company. Contact us today!